M&A - Ovintiv Inc.

Form Type: 8-K/A

Filing Date: 2025-02-04

Corporate Action: Acquisition

Type: Update

Accession Number: 000119312525020114

Filing Summary: On January 31, 2025, Ovintiv Inc. completed the acquisition of approximately 109,000 net acres in the Montney formation, located in Canada, from Paramount Resources Ltd. This amendment to the original Form 8-K includes the disclosure of financial statements of revenue and expenses for the properties obtained in the Montney Acquisition, along with required pro forma financial information. The audited annual statement of revenue and expenses for the year ended December 31, 2023, and the unaudited statement for the nine months ended September 30, 2024, have been incorporated as Exhibit 99.1. Additionally, unaudited pro forma condensed combined financial information and related statements of earnings are included as Exhibit 99.2. The filing outlines no other changes from the original report.

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Form Type: 8-K

Filing Date: 2025-01-31

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525017791

Filing Summary: On January 31, 2025, Ovintiv Inc. completed the Montney Acquisition, acquiring approximately 109,000 net acres in the Montney formation in Canada from Paramount Resources Ltd. The aggregate consideration for the acquisition amounted to CAD$3.325 billion, which was funded through a combination of cash on hand, short-term borrowings, and proceeds from the divestiture of certain oil and gas assets in Duchesne and Uinta Counties, Utah. This follows the previously disclosed Credit Agreement established on December 10, 2024, which was intended to finance the acquisition's cash consideration. The commitments under this Credit Agreement terminated on the date of completion of the acquisition. Additionally, a press release announcing the closing of the Montney Acquisition was issued by Ovintiv on the same day.

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Form Type: 8-K

Filing Date: 2025-01-22

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025007870

Filing Summary: On January 22, 2025, Ovintiv Inc. reported the termination of commitments under the Asset-Sale Term Credit Agreement, which was initiated to finance the acquisition of assets from Paramount Resources Ltd. This termination took place due to the completion of the Divestiture, where Ovintiv's subsidiaries sold substantially all their oil and gas assets located in Utah to FourPoint Resources, LLC. The divestiture agreement was previously disclosed on November 13, 2024. Additionally, Ovintiv announced that the expected closing of the acquisition of Alberta Montney assets from Paramount Resources Ltd. is anticipated to occur before the end of the first quarter.

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